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Government ghost workers drain millions
Minister of Finance and Economic Development, Patrick ChinamasaTHE Youth Ministry understated its payroll by almost $10 million in 2016, as it continues to keep thousands of employees on its books,...
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Government’s secretive $500m loan guarantee book
Auitor General, Mildred ChiriTHE Government of Zimbabwe did not disclose names of entities with nearly $570 million in foreign loans, an audit has found, raising suspicions Treasury could be hiding...
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President Mugabe donates US$1 million to the African Union
Zimbabwe’s President, Robert Mugabe (C) gives a 1 million US dollar cheque to the African Union Foundation during the 29th African Union Summit in Addis Ababa, on July 3, 2017. AFP PHOTOPRESIDENT...
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Rampant abuse puts $1bn public funds at risk
Auditor General, Mildred ChiriA Parliamentary organ has raised the red flag over potential abuse of finances at government institutions retaining funds collected from the public, with nearly $1 billion...
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Meat processors in quandary
Processed meat was of the country’s biggest foreign currency earners before the closure of CSC.A GLOBAL ban on the trade of mechanically deboned meat (MDM), the main ingredient in processed meat, has...
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Financial indiscipline rife in govt — WB
Minister of Finance and Economic Development, Patrick ChinamasaFINANCIAL indiscipline in government is so rife that some state-owned institutions have not been audited since 1980, a World Bank report...
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Econet scraps roaming charges
Econet Wireless chief executive Douglas MboweniECONET Wireless Zimbabwe, the country’s largest telecommunications business, has effectively ended roaming charges through a new product that allows...
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Mugabe blows $50 million on trips
President Robert Mugabe…hospital upgrades allocated $23 millionPRESIDENT Robert Mugabe spent $53 million on foreign trips during 2016, more than double the amount government allocated for the upgrade...
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Zimbabwe in talks on $100 million financing for oilseeds farmers
Confederation of Zimbabwe Industries president, Busisa MoyoZIMBABWE is in talks about a potential $100 million loan facility to support oilseeds farmers in the southern African country and boost...
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Zimbabwe to mortgage gold for loans
Reserve Bank of Zimbabwe governor, John MangudyaZIMBABWE now seeks to use gold proceeds to secure a loan to clear debt arrears with multilateral lenders, as its $1,8 billion debt clearance plan appears...
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Zimbabwean banks face solvency crisis
RBZ has limited capacity to honour its obligations for bank assets in the form of RTGS electronic balances and Treasury bills because of insufficient reserves, posing great danger to banks.ZIMBABWEAN...
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China withholds $70 million loan funds
President Robert Mugabe and his Chinese counterpart, Xi Jinping.CHINA’S Export Import Bank has stopped disbursing funds under a $144 million loan facility signed in 2013 to fund the upgrade of Harare’s...
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Bond notes fuel inflation: IMF
Year on year inflation rose from -0,7 percent in January 2017 to 0,75 percent in May 2017.GOVERNMENT’S introduction of bond notes last year to address a relentless cash crisis fuelled a currency black...
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Chaos as AirZim fires, rehires staff
Air Zimbabwe has been facing viability issues.AIR Zimbabwe (AirZim) is rehiring some of its staff members whose contracts were terminated on Tuesday under a retrenchment exercise, the Financial...
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ZEC wants $274 million for 2018 polls
Zimbabwe Electoral Commission chairperson Rita MakarauTHE Zimbabwe Electoral Commission (ZEC) says it has submitted a $274 million funding proposal to enable the southern African country to hold polls...
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Public entities struggle with financial disclosure
TelOne’s financial reporting under Chipo Mtasa, rivals the best that the private sector can produce.AT LEAST four times every year, Zimbabwe’s State-owned enterprises compete for prime newspaper space,...
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Government ‘super contractor’ Univern in tender row
Transport and Infrastructure Development Minister, Joram Gumbo, expressed concern over Zinara’s relationship with Univern.PLANS to integrate and computerise Zimbabwe’s public transport data have been...
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Treasury Bills outstrip banks’ equity
Finance and Economic Development Minister Patrick Chinamasa and the Reserve Bank of Zimbabwe governor, John MangudyaTHE value of Treasury Bills (TBs) has outstripped bank equity capital by 1,7 times, a...
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Budget review: Will Patrick Chinamasa deal with fiscal ramifications?
Finance and Economic Development Minister Patrick Chinamasa.INTENSIFYING fiscal pressure and a worsening cash crisis will leave no room for gimmicks by Finance and Economic Development Minister,...
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Zimbabwe in mystery grain imports
MOZAMBICAN-registered trucks line up to offload imported maize at the Grain Marketing Board’s Murewa on Monday, July 17, 2017 – Picture by Freedom MashavaGRAIN imports into Zimbabwe have continued...
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